Please don't construe my endorsement of small caps for the coming week given the kerfuffle we've been through this last week as "over," cuz' it ain't. I had been noticing some divergences emerging in various places, most notably on the weekly charts for $NYSE courtesy of Northman Trader, but given the distance that IWM is outside the Keltner channel and how much the market is generally oversold, what we could be witnessing is the final reprieve before our next leg down. Mella@Mella_TA (of Northman Trader) has put the SPX in the major "buy" zone with a bounce ostensibly to around 2040. I noticed looking at IWM on the weekly chart that a line I had put in a long time ago is now showing up as resistance for the third time (the first two were February and October 2014) and finally this out-of-left-field call seemed to be making sense. What is emerging is a declining megaphone which foretells a lot of volatility in the coming weeks.